By: The BitMar Team.
In recent years, streaming services have become the go-to source of entertainment, for millions of people, worldwide. While major players continue to dominate the market, a new trend has emerged in the industry: the rise of niche streaming services that cater to specific audiences.
According to a report, by Grand View Research, the global niche streaming market was valued, at: USD 12.2 billion, in 2020, and it is expected to grow at a Compound Annual Growth Rate (C.A.G.R.), of: 11.4%; from 2021, to 2028. This growth is due to the increasing demand for specialized content, and the rise in competition among streaming services.
Horror is one of the most popular types of niche streaming services. These services offer a wide range of horror movies, TV shows, and documentaries, that cater to fans of the genre. Some of the most popular horror streaming services include: Shudder, Screambox, and Bloody Disgusting.
According to a recent survey, by Statista, horror is the second most popular genre among U.S. consumers, with 52% of respondents stating that they enjoy watching horror movies. This highlights the potential for growth in the horror streaming market.
Anime is another type of niche streaming that has gained popularity, in recent years. These services offer a vast collection of anime content, including: TV shows, movies, and original programming. Some of the most popular anime streaming services include: Crunchyroll, Funimation, and AnimeLab.
According to another report, by Data Bridge Market Research, the global anime streaming market was valued, at: USD 10.85 billion, in 2020, and it is expected to grow, at a C.A.G.R. of: 15.7%; from: 2021, to 2028. The report attributes this growth to the increasing popularity of anime among international audiences—particularly, in the United States, and Europe.
In addition to horror and anime streaming services, there are also niche services for other genres—such, as: documentaries, music, and sports. Documentary streaming services – like: CuriosityStream, and DocPlay – offer a wide range of documentaries, on various topics. On the other hand, music streaming services – like: TIDAL, and Qobuz – offer high-quality music streaming, for audiophiles.
According to another report, by Allied Market Research, the global documentary streaming market was valued, at: USD 1.97 billion, in 2020, and it is expected to grow, at a C.A.G.R. of: 12.9%; from: 2021, to 2027. The report cites the increasing demand for documentaries, among younger audiences, as a key driver of this growth.
Finally, it is worth noting that niche streaming services are not only changing the way in which content is distributed, but – also – the way in which it is produced. With more niche streaming services, entering the market, there is a growing demand for original programming that caters to specific audiences.
In an interview, with The Guardian, Craig Engler, the general manager of Shudder, stated: that "Shudder has greenlit more originals, in the past year, than it had in the previous three—combined." This highlights the importance of original programming, in the success of niche streaming services.
In conclusion, the rise of niche streaming services is a trend that is likely to continue, in the coming years. As consumers increasingly demand specialized content, niche streaming services will continue to grow in popularity, and offer a wide range of options for viewers. Whether you are a horror fan, an anime enthusiast, or a music lover, there is a niche streaming service that caters to your interests, out there.
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